Huntington Ingalls (NYSE: HII) awards restricted stock rights to CAO
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Huntington Ingalls Industries reported a routine compensation-related transaction for Corp VP, Controller & CAO Nicolas G. Schuck. He acquired 3.4050 Restricted Stock Rights (RSRs) as dividend equivalent rights tied to the company’s quarterly cash dividend.
Each RSR represents a contingent right to receive an equivalent number of common shares, or cash, or a combination, under the company’s 2022 Long-Term Incentive Stock Plan. Following this acquisition, Schuck holds a total of 1029.0340 RSRs directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Schuck Nicolas G
Role
Corp VP, Controller & CAO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Rights | 3.405 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Rights — 1,029.034 shares (Direct)
Footnotes (1)
- Each Restricted Stock Right ("RSR") represents a contingent right to receive an equivalent number of shares of Company common stock, or, at the discretion of the Company's Compensation Committee, cash or a combination of cash and Company common stock. The RSRs were granted under the 2022 Long-Term Incentive Stock Plan ("LTISP"). The amount acquired represents dividend equivalent rights on the RSRs, which are credited following payment of the Company's quarterly cash dividend. Pursuant to the LTISP, the number of dividend equivalent rights acquired is calculated by dividing the aggregate amount of the dividend paid on the total number of RSRs held by the reporting person by the closing price of a share of Company common stock on the dividend payment date.
FAQ
What insider transaction did HII executive Nicolas Schuck report on this Form 4?
HII executive Nicolas G. Schuck reported acquiring 3.4050 Restricted Stock Rights. These were credited as dividend equivalent rights linked to Huntington Ingalls Industries’ quarterly cash dividend, increasing his total Restricted Stock Rights position under the company’s long-term incentive plan.
How many Restricted Stock Rights does HII’s Nicolas Schuck hold after the latest grant?
After the latest acquisition, Nicolas G. Schuck holds 1029.0340 Restricted Stock Rights. These rights are tied to Huntington Ingalls Industries’ common stock under the 2022 Long-Term Incentive Stock Plan and can settle in shares, cash, or a combination at the company’s discretion.
What does each Restricted Stock Right represent for HII executive Nicolas Schuck?
Each Restricted Stock Right represents a contingent right to receive one share of Huntington Ingalls Industries common stock, cash, or a mix of both. The company’s Compensation Committee decides the settlement form under the 2022 Long-Term Incentive Stock Plan.
Why did HII grant 3.4050 additional Restricted Stock Rights to Nicolas Schuck?
The 3.4050 Restricted Stock Rights reflect dividend equivalent rights credited after HII paid its quarterly cash dividend. The number is calculated by dividing total dividend value on his existing RSRs by the closing share price on the dividend payment date.
Is the HII Form 4 for Nicolas Schuck an open-market stock purchase or sale?
The Form 4 for Nicolas Schuck does not report an open-market trade. It shows a grant/award acquisition of 3.4050 Restricted Stock Rights as dividend equivalents under HII’s long-term incentive plan, a routine compensation-related adjustment rather than a market transaction.